LUTON (dpa-AFX) - easyJet (ESYJY.PK, EZJ.L), on Thursday, announced that on 13 March 2024, it priced EUR 850 million of bonds under its Euro Medium Term Note or EMTN programme to be issued on 20 March 2024 and guaranteed by easyJet FinCo B.V. and easyJet Airline Company Limited.
The bonds mature in 2031, have a coupon of 3.750%, and are expected to be rated Baa2 (stable) by Moody's and BBB (positive) by Standard & Poor's, with over 200 investors participating in the issue.
In the past 18 months, easyJet has managed to retire £1.6 billion worth of debt, allowing for a deleveraging of the balance sheet following the recovery of travel post-pandemic. Part of the funds raised from the issuance will be directed towards repaying existing debt as it matures within the next 18 months.
Kenton Jarvis, Chief Financial Officer, said, 'We are very pleased with the success of this bond issue. The interest shown by investors at greater than 4x oversubscription and the competitive pricing underscores the market's confidence in easyJet's strategy.'
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